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senators reid and mcconnell talking past each other. sounds like we're not exactly close to a fiscal cliff resolution at this point. >> yeah. what does it all mean for wall street? will it be an ugly day? michael guyette from pension partners and michael farr from farr miller in washington and our very own rick santelli. michael, i'll get to you in a minute. the markets moved up and closed marginally in the red on the news the house will reconvene on sunday night. i get the feeling that all of that back and forth between senators reid and mcconnell, had that come out during market hours, the market would have reacted very differently. so far apart. i didn't hear anything in the way of compromise there. >> even before of the house meeting, marks were down 1.2%. that's noise but not really a panic. the result of the fiscal cliff here is not risk off. it's risk protation into those areas of the investable landscape. look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather liste
senators reid and mcconnell talking past each other. sounds like we're not exactly close to a fiscal cliff resolution at this point. >> yeah. what does it all mean for wall street? will it be an ugly day? michael guyette from pension partners and michael farr from farr miller in washington and our very own rick santelli. michael, i'll get to you in a minute. the markets moved up and closed marginally in the red on the news the house will reconvene on sunday night. i get the feeling that...
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the question becomes is what is it and does mcconnell, senate minority leader actually let senator reid get a bill off the floor of the united states senate and -- by the end of the week or saturday or sunday. if that's the case, that's fine. guess what. it doesn't matter what the senate comes up with. the house is still not going to pass it. john boehner can't. he just can't pass a bill off his floor with a majority democrats and 20 republicans. >> the house already voted to extend all of the bush tax cuts. >> and the senate -- >> house leaders are right to say the ball is in the senate's court. until they act we can't know -- what kind of deal we come up with. >> the ball is always in the senate's court. that's how it works. >> you are both argue being process. here is what i don't understand. i stay to democrats that come on, what p the republicans voted to extend taxes on everybody that you want, would you means test social security and medicare? the vast majority say oh, no, no, no, no. >> not this democrat. i would absolutely support it. >> unfortunately you are not in congress. >
the question becomes is what is it and does mcconnell, senate minority leader actually let senator reid get a bill off the floor of the united states senate and -- by the end of the week or saturday or sunday. if that's the case, that's fine. guess what. it doesn't matter what the senate comes up with. the house is still not going to pass it. john boehner can't. he just can't pass a bill off his floor with a majority democrats and 20 republicans. >> the house already voted to extend all...
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it is very clear that boehner and mitch mcconnell have made clear, if the president wants a dollar of debt ceiling increase, we need to cut spending a dollar, and that goes for $1 trillion because the president is going to want a trillion dollar debt ceiling increase because of the debt he's running up. that kind of spending restraint is exactly the kind of thing we need to do in the future for any debt ceiling increase period. >> okay. and as you see there, bob corker will join "the squawk pox" gang on monday morning. grover, always good to see you, thank you. >> thank you very much. >> president obama, congressional leaders meeting at the white house to avoid the fiscal cliff. we'll bring you the latest developments on that any minute now. >> also, we'll check up on health care, one of the year's best performing sectors. we'll find out if it's going to run out of steam in the new year and name some names for you coming up. >> and later on, big sky, big jump in estate taxes if congress fails to reach a deal on the cliff. we'll talk to a montana rancher who is pretty upset. coming up,
it is very clear that boehner and mitch mcconnell have made clear, if the president wants a dollar of debt ceiling increase, we need to cut spending a dollar, and that goes for $1 trillion because the president is going to want a trillion dollar debt ceiling increase because of the debt he's running up. that kind of spending restraint is exactly the kind of thing we need to do in the future for any debt ceiling increase period. >> okay. and as you see there, bob corker will join "the...
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the republican leader, mitch mcconnell, really put the blame on democrats, but he did seem to indicate that there may be further negotiations that are ongoing here, possibly even as we speak. take a listen to mitch mcconnell earlier this afternoon. >> the truth is, we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward, just because we find ourselves at the edge of the cliff. >> so mcconnell there very much sounding in his remarks today like a man who was expecting a new offer, something from the president of the united states. what we know about the president is that he cut short his hawaii vacation, arriving in d.c. earlier today. and we're not aware of new developments from the president, but mcconnell seemed to telegraph that the president called him yesterday and now expecting that the president would make him some sort of offer at some point in the future. we haven't seen that yet. so, this story continues, melissa. >> so, it sou
the republican leader, mitch mcconnell, really put the blame on democrats, but he did seem to indicate that there may be further negotiations that are ongoing here, possibly even as we speak. take a listen to mitch mcconnell earlier this afternoon. >> the truth is, we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward, just because we...
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where we are awaiting boehner, pelosi, reid, mcconnell. all the major players to go into the white house, meet with the president, try to get a fiscal deal done. that meeting, 3:00 p.m. eastern time, in other words, in about eight minutes from now. any headline that comes out of it, you will hear first right here on the worldwide leader in business news. all right. let's forget theory for a moment and find out how the cliff may impact real businesses right here in america, so let's reconvene our "street signs" small business all-star panel. joining us president and owner of maria's italian kitchen and a new face to cnbc, david martin from h.j. martin & son in green bay who i met when i walked into his family store this summer and got a tour of the place. david, thank you very much for joining us. madeline, first, are you worried? are you customers going to stop eating at maria's if we go over the fiscal cliff? >> i don't know, brian. i've got my parachute packed. how about you? >> pasta parachute? that's terrible, sorry. >> full of lots of
where we are awaiting boehner, pelosi, reid, mcconnell. all the major players to go into the white house, meet with the president, try to get a fiscal deal done. that meeting, 3:00 p.m. eastern time, in other words, in about eight minutes from now. any headline that comes out of it, you will hear first right here on the worldwide leader in business news. all right. let's forget theory for a moment and find out how the cliff may impact real businesses right here in america, so let's reconvene...
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the president, speaker boehner, harry reid, nancy pelosi, mitch mcconnell will all be there. this could be the beginning of a real endgame for the fiscal cliff conflict. we will keep you updated on any new developments tonight and throughout the day tomorrow on cnbc. >>> now the american psychiatric association says it is okay to give antidepressants to people who are grieving over a recently lost loved one. again, these people are not diagnosed with clinical depression. these are people who have suffered a real loss. can a pill really help you with that? here now is beverly hills psychiatrist dr. carol lieberman. is this a good idea? >> thank you. the whole mental health system is actually falling apart and it goes beyond bereavement and depression. actually, bereavement has a lot of similarities to major depression or at least in some people's cases. the depression comes from loss. so whether it's the loss of a job or a loss of a relationship or a loss of a loved one there really are similar symptoms like a sense of sadness like loss of interest or pleasure in activities th
the president, speaker boehner, harry reid, nancy pelosi, mitch mcconnell will all be there. this could be the beginning of a real endgame for the fiscal cliff conflict. we will keep you updated on any new developments tonight and throughout the day tomorrow on cnbc. >>> now the american psychiatric association says it is okay to give antidepressants to people who are grieving over a recently lost loved one. again, these people are not diagnosed with clinical depression. these are...
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we need senator mcconnell to come to us to come with a package of what can be passed. what is the ultimate game plan, do you think, by deflecting the responsibility, essentially, for getting a deal done? >> what has been the case all along continues to be the case now, which is if there's any hope of a deal here, all the parties, all of them have to stand on the edge of this cliff, hold hands and jump off all together. that's the only way we will navigate this thing safely. what's happening now is that everybody is walk up to the edge individually and looking over and saying i don't want to do that i can't bring myself is to cast that vote. if they can all hold hands and do this together and avoid blaming each other then they can get a deal but it seems clear that what we are seeing in public now a reflection of behind-the-scenes negotiations that have broken down or at least hit some very serious impasse and we will not get a deal possibly by new year's eve and might have to deal with something after january and of course, after the election for the house speakership,
we need senator mcconnell to come to us to come with a package of what can be passed. what is the ultimate game plan, do you think, by deflecting the responsibility, essentially, for getting a deal done? >> what has been the case all along continues to be the case now, which is if there's any hope of a deal here, all the parties, all of them have to stand on the edge of this cliff, hold hands and jump off all together. that's the only way we will navigate this thing safely. what's...
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Dec 26, 2012
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no signs of progress and the republican leadership aide in the senate, mitch mcconnell is going to be crucial to a potential last minute breakthrough. we haven't heard anything from the democrats. so at this moment, we're at a stalemate but things can come together quickly if people start to get desperate and politicians start to worry that they will get blamed for a very adverse reaction in the markets and the economy generally. >> some people i've talked to today suggested the mere fact the president is coming back from hawaii early on suggests good tidings. >> well, i think it suggests the president wants to be working on this problem and be seen as working on this problem, but it's only partially up to him. he's got to get the acquiescence of republicans and a temporary extension of tax cuts for people under $250,000. their acquiescence to turn off the sequester to avoid the automatic budget cuts are up to mitch mcconnell in part and also up to john boehner who may be asked before it's over to put on the floor of the house a bill that lacks support of the majority of his own membe
no signs of progress and the republican leadership aide in the senate, mitch mcconnell is going to be crucial to a potential last minute breakthrough. we haven't heard anything from the democrats. so at this moment, we're at a stalemate but things can come together quickly if people start to get desperate and politicians start to worry that they will get blamed for a very adverse reaction in the markets and the economy generally. >> some people i've talked to today suggested the mere fact...
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the bottom line is, you've got one person objecting, mitch mcconnell. i like mitch mcconnell. he's not a terrible guy. but he keeps objecting and that's going to be the problem. he's going to be the decider on this. if he can get his caucus to coalesce and get 60 votes or no objections, something's going to come out of the senate. it's too late to get it done by january 1st. we're going off the cliff, boys. >> all right. how far -- >> i want to try out my idea. >> okay. >> because i still think we're talking about end of january, early february. that's where this goes. when do you think this happens? is it a massive grand bargain? ultimately has to happen, that deals with the debt ceiling, as well? are we talking about a baby deal middle of january? what does it look like? >> i think middle of january, they'll have it all wrapped up by the time -- listen, they get all sworn in on january 3rd, believe me they don't want to stick around. but they're going to have to. so the longer they sit around here the more upset they're going to be. and at that point everything is expired. s
the bottom line is, you've got one person objecting, mitch mcconnell. i like mitch mcconnell. he's not a terrible guy. but he keeps objecting and that's going to be the problem. he's going to be the decider on this. if he can get his caucus to coalesce and get 60 votes or no objections, something's going to come out of the senate. it's too late to get it done by january 1st. we're going off the cliff, boys. >> all right. how far -- >> i want to try out my idea. >> okay....
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>> i think if they made progress at the meeting today and if mitch mcconnell and john boehner decide to take the risk of t advancing this with their members they could vote sunday or monday and it is possible to get done before january first. nobody is betting on this at this point and everybody's omt michel has been sorely tested by the lack of movement over the last week or so but just in the last few hours there is some movement toward the possibility of the deal. >> thanks so much for the very latest there john down in d.c. for us watching the action there. stocks moved off their lows on news of the new offer for the president. we're still setting up for the biggest weekly loss for the stock market in some six weeks. we're trading today with the najarian brothers, mike murphy, and steven wieis. we are moving closer to a deal according to john harwood's reporting. what do you do with the market today? >> i don't think you do anything based on those headlines. where you want to continue to be is high quality names and ride it out. if you see prices come your way in specific stocks
>> i think if they made progress at the meeting today and if mitch mcconnell and john boehner decide to take the risk of t advancing this with their members they could vote sunday or monday and it is possible to get done before january first. nobody is betting on this at this point and everybody's omt michel has been sorely tested by the lack of movement over the last week or so but just in the last few hours there is some movement toward the possibility of the deal. >> thanks so...
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minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> now, a new reuters poll shows americans blame republicans more than democrats or president obama for the fiscal crisis. and when asked who they held more response, 27% said the gop, 6% pointed to the dems and 30% said all of the above. for more on this, we're joined by christian schultz from barronberg bank. welcome. so we're going over the fiscal cliff. >> well, the consumer confidenc already be over the cliff in terms of confidence already. that might already be the first impact of the crisis of -- not of the crisis, but yes of the fiscal cliff. it seems we have this moment where this animal goes over the cliff, all limbs are still rotating around and we're staring into the abyss and eventually we're going to fold. >> i love that mental image. >> but it was the expectations component of that confidence data yesterday that was responsible for the headline de
minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> now, a new reuters poll shows americans blame republicans more than democrats or president obama for the fiscal crisis. and when asked who they held more response, 27% said the gop, 6% pointed to the dems and 30% said all of the above. for more on this,...
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>> senator reed and senator mcconnell. the collapse of plan b probably made a deal more likely rather than less likely because it undercut the republican negotiating position, increased pressure on him to put something on the floor to pass with democratic votes as well as republican votes, but the first step has got to take place in the senate. democrats are theepg senator mcconnell either overtly or quietly by not trying to stop it in using all of the levers of power that the minority has in the senate will permit a temporary deal that would extend unemployment benefits, take care of the fix temporarily that would extend tax cuts for everybody under $250,000 temporarily and turn off the see quester, but we have to wait and see what happens when the president gets back tomorrow, when the senate gets back tomorrow and see if they can make some progress. if they can, the house can act pretty quickly. we haven't seen it yet. >> john, we've got to run, but procedurally if a trader is out there waiting to know if house members
>> senator reed and senator mcconnell. the collapse of plan b probably made a deal more likely rather than less likely because it undercut the republican negotiating position, increased pressure on him to put something on the floor to pass with democratic votes as well as republican votes, but the first step has got to take place in the senate. democrats are theepg senator mcconnell either overtly or quietly by not trying to stop it in using all of the levers of power that the minority...
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. >> now the focus shifted to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, loui
. >> now the focus shifted to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a...
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i think a lot of it depends on mitch mcconnell, the senate minority leader, if he decides to allow a bill to move forward on the floor. >> is there anything going on behind the scenes that we don't know about? >> there is. the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is difficult, because there's lots of other stuff that has to go into what the president talks about before he left on friday, which is the tax rates. he didn't talk about payroll tax cut, amt, a number of things. there's a lot that has to go into a final deal and how they get that done. >> my worry is we're not talking about early january, we're talking about late january. >> i think it's probably more mid january if we go over. because i think you'll see market reaction, and you'll see a lot of people freak out, and it's a problem. >> market reaction, would you think -- >> people still think it's, you know, we get a deal. last-minute deal. i tend to be an optimist
i think a lot of it depends on mitch mcconnell, the senate minority leader, if he decides to allow a bill to move forward on the floor. >> is there anything going on behind the scenes that we don't know about? >> there is. the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is difficult, because there's lots of...
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what about senate minority leader mitch mcconnell? >> well, the thing at this point and i'm told by sources is that there really are no negotiations going on between senator mitch mcconnell, the republican leader in the senate, and senator majority leader harry reid, in hawaii for the funeral of daniel inouye and is now on his way back to washington. it would come down to the senate doing something. there would be a possibility that senate mcconnell might allow this bill i mentioned that i already passed in july, was a threshold for tax hikes, being at the $250,000 level, he may allow democrats to say, the house has to take this, or if there is some sort of vote on another measure, while mitch mcconnell would be unlikely to personally support it, perhaps he might let some of his republican senators do that, now, this is sort of thinking, coming from democrats, this is not something that mitch mcconnell at this point is planning to do, and it's very much unclear. the fact is, though, it doesn't just matter what the senate does, don. th
what about senate minority leader mitch mcconnell? >> well, the thing at this point and i'm told by sources is that there really are no negotiations going on between senator mitch mcconnell, the republican leader in the senate, and senator majority leader harry reid, in hawaii for the funeral of daniel inouye and is now on his way back to washington. it would come down to the senate doing something. there would be a possibility that senate mcconnell might allow this bill i mentioned that...
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that is good news, senator mcconnell going to the white house tomorrow, hopefully. but i'm going to ask you about the house of representatives, dana. right now they've been called back to washington, not until sunday, december 30th. now, 48 hours before the fiscal cliff goes over, is that really enough time to get legislation passed, if there's a real deal on the table? >> reporter: is it enough time? probably. if there's really something that is going to pass the senate, and this is a big if, as jessica said, the oddsmakers are definitely seeing the fiscal cliff happening, us going over the fiscal cliff, but if senate does pass something, that would be the next move, then the house could pretty easily take it up and pass it on sunday night or monday morning, on the actual day of december 31st. i think at this point, it's more of a question of optics, and democrats were definitely trying to take advantage today of the fact that the house republican -- the republican-led house, rather, is not here and won't be here until sunday. we all know that what happens here in
that is good news, senator mcconnell going to the white house tomorrow, hopefully. but i'm going to ask you about the house of representatives, dana. right now they've been called back to washington, not until sunday, december 30th. now, 48 hours before the fiscal cliff goes over, is that really enough time to get legislation passed, if there's a real deal on the table? >> reporter: is it enough time? probably. if there's really something that is going to pass the senate, and this is a...
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we are expecting to hear from republican leader mitch mcconnell, maybe even senate majority leader harry reid, as of now so far as we know there is no fiscal cliff deal, but negotiations primarily betweens those two men are going on even as we speak or between their staffs. we're hearing a new sense of optimism from some senate members who believe they might be able to pass some kind of minimalist package that would keep tax rates from going up on the majority of americans. i want to go to capitol hill and cnn's senior congressional correspondent dana bash. dana, is that the sense you get that somehow we should be optimistic about whatever it is that's going on? >> you know, as we talked about before, you definitely get a feeling or the atmosphere here is that there is progress being made but in the same breath, but, there are still thingsing to worked out. as we wait for what we generally see when the senate opens which is the pledge of allegiance, a prayer and so forth, if you see the bottom of your screen, i'm not sure if you can see it, white hair, that is harry reid, the senate majo
we are expecting to hear from republican leader mitch mcconnell, maybe even senate majority leader harry reid, as of now so far as we know there is no fiscal cliff deal, but negotiations primarily betweens those two men are going on even as we speak or between their staffs. we're hearing a new sense of optimism from some senate members who believe they might be able to pass some kind of minimalist package that would keep tax rates from going up on the majority of americans. i want to go to...
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and it seems that unlikely that senate minority leader mitch mcconnell would want to negotiating? that he doesn't feel will be able to also pass the house, which would require the support of some house republicans and that's part of the reason why this is such a difficult task and it has really been thrown into question whether or not the country is going over the fiscal cliff. the senate will reconvene, it is on xenlg actual reconvene september 27th that is on thursday. and i think the expectation is that at some point, president obama would go back to washington, especially if there's this possibility that the country goes off of the fiscal cliff. he wouldn't obviously want to be here in hawaii when that happens, miguel. >> just sounds like it is a very complicated game of chicken. the president is attending a very somber event today. the body of hawaii senator daniel inouye is being interred. what can you say about the ceremony? >> reporter: this is the national cemetery of the pacific, referred here in honolulu as the punch bowl. this is a cemetery where a number of people who
and it seems that unlikely that senate minority leader mitch mcconnell would want to negotiating? that he doesn't feel will be able to also pass the house, which would require the support of some house republicans and that's part of the reason why this is such a difficult task and it has really been thrown into question whether or not the country is going over the fiscal cliff. the senate will reconvene, it is on xenlg actual reconvene september 27th that is on thursday. and i think the...
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the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that to be the case? >> no, i don't believe that to be the case. listen, a year ago august when the president was negotiating with the speaker, they were very close to the big deal that needs to be struck. and this isn't a one party or a one house problem. this is leaders of both parties and all branches of the government are not willing to make the deal that they know they have to make, and everybody wants their stuff but doesn't want to give up, you know, what they don't want to give up. >> you know, we're showing pictures right now of john boehner and president obama. john boehner from your state of ohio. there are a lot of people that say if the deal were between these two guys, it would be made. the problem is john boehner can't agree to something with president obama and then take it back to his own party. >> well, and vice versa. a year ago august the president couldn't agree to the deal he needed another $400 billion in re
the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that to be the case? >> no, i don't believe that to be the case. listen, a year ago august when the president was negotiating with the speaker, they were very close to the big deal that needs to be struck. and this isn't a one party or a one house problem. this is leaders of both parties and all branches of the government are not willing...
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senate to pass a plan at this point, aides for democratic leader harry reid and republican leader mitch mcconnell are trading proposals. even if they agree, they still need the support of the caucuses. that's no sure thing. then the plan needs to pass the house too. and speaker john boehner has shown he can't control how his caucus votes. if the senate fails to act, president obama wants it to consider a much smaller plan, one that at least would stop middle class tax hikes, at least. but republicans could block a vote on that. did you get all that? >>> by now, you're probably asking how did we get in this mess? cnn's ali velshi breaks it down for us. >> now we have passed a bold package of tax relief for america's families and businesses. >> reporter: it starts more than a decade ago, when then president george w. bush initiated a series of tax cuts for all americans. but it's a deal with a devil. the cuts, which are politically expedient but costly to government, expire in ten years' time. >> both houses of congress have now passed a package of tax relief that will protect the middle class. >>
senate to pass a plan at this point, aides for democratic leader harry reid and republican leader mitch mcconnell are trading proposals. even if they agree, they still need the support of the caucuses. that's no sure thing. then the plan needs to pass the house too. and speaker john boehner has shown he can't control how his caucus votes. if the senate fails to act, president obama wants it to consider a much smaller plan, one that at least would stop middle class tax hikes, at least. but...
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only he and senator mcconnell have been here today. you know, i think the situation is such that after speaker boehner lost that vote, and there is walking in from earlier in the week, after speaker boehner lost the vote in his own caucus in the house, it was clear and he even said as much, that the senate needed to act. that's for a couple of reasons. one, the senate has that 60-vote threshold to get anything through and conservativives in the house want cover, they don't want to pass something and have it run into trouble in the senate because they would be sticking their neck out to some degree especially those conservatives or republicans worried about a tea party challenge next time around. so for a lot of reasons, everything has to start in the senate. that's why we're seeing a lot less of speaker boehner. but i think what's interesting in the capitol today martin, in the last few minutes we've seen the sun come out. this place is full of tourists. that kind of concern about the average american is getting these leaders to the ta
only he and senator mcconnell have been here today. you know, i think the situation is such that after speaker boehner lost that vote, and there is walking in from earlier in the week, after speaker boehner lost the vote in his own caucus in the house, it was clear and he even said as much, that the senate needed to act. that's for a couple of reasons. one, the senate has that 60-vote threshold to get anything through and conservativives in the house want cover, they don't want to pass...
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it's not clear whether mitch mcconnell or other senators in the republican party will allow that to move forward. if something passes in the senate, i think it's likely that the house will follow suit. i think that takes the pressure off john boehner a little bit in terms of bringing something to the floor that his minions don't love. >> take care, drew. >>> two firefighters shot and wounded on christmas eve are improving and starting physical therapy. joseph hoffstetter and the other firefighter were shot after being called to a fire. we are starting to hear the 911 calls. >> multiple firemen down. multiple firemen shot. i am shot. i think it was an assault rifle. >> volunteers from other areas have stepped in to help the webster fire department. >> we're all family, yep, brothers and sisters. it will be a long time before this department gets over this. i understand, if they need us to come back and help out we'll be here. >> police say william spengler set the fire to lure the firefighters into a trap. he eventually killed himself. his sister was also found dead. >>> how does a small
it's not clear whether mitch mcconnell or other senators in the republican party will allow that to move forward. if something passes in the senate, i think it's likely that the house will follow suit. i think that takes the pressure off john boehner a little bit in terms of bringing something to the floor that his minions don't love. >> take care, drew. >>> two firefighters shot and wounded on christmas eve are improving and starting physical therapy. joseph hoffstetter and the...
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so house republicans have kind of abdicated their role in this to the senate minority leader mitch mcconnell. if perhaps he could get on board with something with democrats in the senate to move along, presumably that might be able to be pushed through the house. the house republicans at least some of them, would have to vote on that in order to pass it so they have some i guess influence in that regard, but really they've given away a lot of their -- almost all of their influence on what this package can ultimately look like. >> oh, dear, i'm not smelling a lot of hope. aloha. thank you very much, brianna keilar. >>> it's a wintry mess for much of the country today as americans gear up for holiday travel. this midwest blizzard is now ripping across the northeast. most of the problems are from high winds as high as 40 miles per hour. aaa predicts some 93 million americans will travel between now and new year's. but if the roads look anything like this, you may want to stay home. >>> alexander steele is in the cnn weather center. what's the latest on the storm? >> this holiday has been fraugh
so house republicans have kind of abdicated their role in this to the senate minority leader mitch mcconnell. if perhaps he could get on board with something with democrats in the senate to move along, presumably that might be able to be pushed through the house. the house republicans at least some of them, would have to vote on that in order to pass it so they have some i guess influence in that regard, but really they've given away a lot of their -- almost all of their influence on what this...
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you heard senator mcconnell talk about that on the floor. we are still awaiting a counteroffer by the democrats. and there was an indication that we could have received that by 10:00 this morning. we have yet to receive it. but there are discussions that continue. senator mcconnell and vice president biden are continuing to discuss this and we think there perhaps still could be a path forward. the one thing that is a, you know, democrats come out and made a big deal out of chained cpi, republicans are very concerned that if that not be used as an offset to reduce or to replace some of the spending cuts that you would occur in the sequester, that democrats put forward an alternative and so this is a process. obviously, there's a lot of give and take going on now, but republicans don't want to see new revenues, in other words, democrat tax increases, be used for new spending. so that's sort of where many of our members have drawn the line now. >> that is where it times to be one of the big road blocks are right now, democrats -- you-all want t
you heard senator mcconnell talk about that on the floor. we are still awaiting a counteroffer by the democrats. and there was an indication that we could have received that by 10:00 this morning. we have yet to receive it. but there are discussions that continue. senator mcconnell and vice president biden are continuing to discuss this and we think there perhaps still could be a path forward. the one thing that is a, you know, democrats come out and made a big deal out of chained cpi,...
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i think the key player is mitch mcconnell to watch. we're getting potentially more information about what is happening next. our capitol hill producer deidre walsh was there when some of the leaders returned and she spoke with nancy pelosi who said this meeting was constructive and candid. here's what is especially interesting. nancy pelosi told reporters that the president led a meeting that ended with senators reid and mcconnell trying to work something out between the two of them. now it seems like we've gone from a process that was president obama and speaker boehner and then today to five leaders back to two. and those two, for the moment, seem to be senator reid and senator mccon until. also, i had a source in senator mcconnell's office who said we should be getting a statement from the republican leader of the senate any time now. so that statement will tell us a lot, candy. >> it will. but we also know that even though it's in the senate hands now which is basically where speaker boehner tossed it when he couldn't get his plan
i think the key player is mitch mcconnell to watch. we're getting potentially more information about what is happening next. our capitol hill producer deidre walsh was there when some of the leaders returned and she spoke with nancy pelosi who said this meeting was constructive and candid. here's what is especially interesting. nancy pelosi told reporters that the president led a meeting that ended with senators reid and mcconnell trying to work something out between the two of them. now it...
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john boehner and mitch mcconnell representing the republicans. brianna keilar live now from washington. great to see you. house doesn't return to work until sunday. logistically speaking here, is there still enough time to work out a deal? >> i will tell you logistically speaking, logistically speaking, yes. politically speaking, very much unclear, there's a growing amount of pessimism about whether or not that can be done. we've been talking for days about how eyes are on the senate to see what harry reid cobbles together to try to get republican support in the senate and house. he's saying it's hard to see how this can get done by january 1st. so we're seeing a lot of managing of expectations and certainly a lot of posturing on both sides as it appears they're getting ready to play the blame game should we go over the cliff. listen to both sides. >> republicans are not about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> we are here in washington working while the mem
john boehner and mitch mcconnell representing the republicans. brianna keilar live now from washington. great to see you. house doesn't return to work until sunday. logistically speaking here, is there still enough time to work out a deal? >> i will tell you logistically speaking, logistically speaking, yes. politically speaking, very much unclear, there's a growing amount of pessimism about whether or not that can be done. we've been talking for days about how eyes are on the senate to...
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. >> that, of course, was senator mitch mcconnell and here we have the majority leader in the senate, harry reid. let's listen in for a second. >> the house has reported by the press and we all know, one of the plans didn't have a name, it wasn't plan b. i don't know which plan it was because they've had a number over there. but this plan was to show the american people that the $250,000 ceiling on raising taxes wouldn't pass in the house. why didn't they have that vote? because it would have passed. they wanted to kill it. the speaker wanted to show everybody that it wouldn't pass the house. but he couldn't bring it up for vote because it wouldn't pass. republicans -- a myriad of republicans think it's the fair thing to do and of course every democrat would vote for that. the republican leader finds himself frustrated that the president has called on him to help address the fiscal cliff. he's upset because, quote, the phone never rang. he complains that i have not passed the resolution to pass the fiscal cliff but he's in error. we all know that in july of this year we passed in the
. >> that, of course, was senator mitch mcconnell and here we have the majority leader in the senate, harry reid. let's listen in for a second. >> the house has reported by the press and we all know, one of the plans didn't have a name, it wasn't plan b. i don't know which plan it was because they've had a number over there. but this plan was to show the american people that the $250,000 ceiling on raising taxes wouldn't pass in the house. why didn't they have that vote? because it...
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also, we were able to see some of senator mcconnell's staffers. i was able to speak to one of them coming in and out of these kind of closed-door planning meetings. he said they've been here since 9:00 a.m. they plan to work all day and we may see his boss, senator mcconnell, later today. that shows us kind of where things stand. i wanted to break this down simply because there's so much that complicates the story. let's look really quickly at a graphic of the basics, what's happening right now. here's where we stand with the fiscal cliff. first of all, who's doing the negotiating? ice the top two senators, senator reid for the democrats, senator mcconnell for the republican, and it is their staff who are working out details right now. what are they talking about? mainly trying to find a way to avoid those tax hikes for most americans. that could also include an extension of unemployment benefits. what is unclear is whether other things such as budget cuts eliminating that sequester that's coming up or other things will be in that deal. when will
also, we were able to see some of senator mcconnell's staffers. i was able to speak to one of them coming in and out of these kind of closed-door planning meetings. he said they've been here since 9:00 a.m. they plan to work all day and we may see his boss, senator mcconnell, later today. that shows us kind of where things stand. i wanted to break this down simply because there's so much that complicates the story. let's look really quickly at a graphic of the basics, what's happening right...
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minority leader mitch mcconnell to ensure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor, and leader nancy pelosi to produce the huge number of democrats needed to pass it. but if that plan falls through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> the president's basic package has much more for democrats to like. so don't expect that to get very far. but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcconnell and harry reid and their negotiators holed up on capitol hill. the senate comes back into session at 1:00 on sunday. >> jessica yellin, thanks. >>> and with the pressure now squarely on the senate to fix the fiscal cliff, they will lead the talks this weekend. a period of time reid calls, quote, very important, mcconnell says he's hopeful both sides will have a plan to present to their respective members as early as tomorrow. and other republican and demo
minority leader mitch mcconnell to ensure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor, and leader nancy pelosi to produce the huge number of democrats needed to pass it. but if that plan falls through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> the president's basic package has much more for democrats to like. so don't expect that to get very far. but all...
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. >> senator reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up-or-down vote, one that protects the middle class from an income tax hike, extends unemployment to the 2 million americans looking for a job and lays groundwork for more economic growth and deficit reduction. >> just moments ago, senator harry reid says he's readying a bill for a vote by monday. all this follows a rare face-to-face closed door meeting at the white house today between all the key players, the president, the vice president, the treasury secretary and all four congressional leaders huddled together with just four days to go before we all go overs fiscal cliff. that meeting lasted for an hour and five minutes. on a story where every second and every maneuver counts, let's get chief to white house correspondent jessica yellin. jessica, the president says he's modestly optimist being but each also presented a back
. >> senator reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up-or-down vote, one that protects the middle class from an income tax hike, extends unemployment to the 2 million americans looking for a job and lays groundwork for more economic growth and deficit reduction. >> just moments ago, senator harry...
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let senators reid and mcconnell really resolve this together. and those are, as i said, two men who know how to work things out. speaker boehner stepping out of it at this point because he has not been able to produce a deal to date and it's not on his shoulders. and nancy pelosi is the one who's going to have to car ray lot of this weight if it gets anywhere in the house because she'll have to deliver a lot of votes. the president not at his maximum frustration level, i have to say, still seeming a little enthusiastic. >> jessica yellin, thanks so much. ken, i want to ask you, you're an expert on economic crises. yol want to have to use your expertise ever again. we're not going to a crisis, hopefully, as a result of this. what's your best advice in terms of keeping the economy on track? what's the best compromise everybody can come out with if they know it will help the economy? >> well, we'd like to see tax reform. we'd like to see washington do things like infrastructure, cut back on spending. it's dysfunctional. that's what's so dishearteni
let senators reid and mcconnell really resolve this together. and those are, as i said, two men who know how to work things out. speaker boehner stepping out of it at this point because he has not been able to produce a deal to date and it's not on his shoulders. and nancy pelosi is the one who's going to have to car ray lot of this weight if it gets anywhere in the house because she'll have to deliver a lot of votes. the president not at his maximum frustration level, i have to say, still...
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and what the senate republican leader mitch mcconnell who you just heard from there, what he's saying he hopes to get from the president is a more details explanation of what he has been saying publicly, which is that he thinks he just wants the senate to pass the stop gap measure to keep tax cuts where they are for 98% of americans, which he campaigned on over and over again in the last election, in the hopes that enough republicans will come onboard and then this could possibly get through the house. >> jessica, is there cause then for optimism or is this meeting really just for show? >> well, as dana pointed out, at this meeting, they could work out the details of this scaled down proposal, which could be a final agreement. for example, republicans have been calling for these details, and the kind of thing they would like to know is if, just one example, if unemployment insurance is going to be extended, how would that be paid for? these are the sort of things that could be worked out tomorrow. senate republicans, the leader, mitch mcconnell, has made it clear today as dana reporte
and what the senate republican leader mitch mcconnell who you just heard from there, what he's saying he hopes to get from the president is a more details explanation of what he has been saying publicly, which is that he thinks he just wants the senate to pass the stop gap measure to keep tax cuts where they are for 98% of americans, which he campaigned on over and over again in the last election, in the hopes that enough republicans will come onboard and then this could possibly get through...
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the hope for any deal before january 1st is that somehow minority leader mitch mcconnell could convince his troops, convince the republicans not to block it with a filibuster. each individual senator makes up their own mind, each senator has the right to stage a filibuster. so that's not something he can control entirely. a bigger issue, though, i have to edadmit, when you look at senator mcconnell and why he's so important right now is that he needs to bring some republicans on board this deal for a couple reasons. first, they need those republican votes to get anything through the senate. and then second of all, speaker boehner needs some cover, he needs some way to convince republicans in the house that they should pass this deal. conservatives are putting pressure on all sides and republicans in the house want to be to say conservativings in the senate supported this. i can too for the good of the country even though i don't like it. these are the dynamics in play. a lot of politics, a lot at stake. and this is why all focus is on senator mcconnell because he can bring so much to th
the hope for any deal before january 1st is that somehow minority leader mitch mcconnell could convince his troops, convince the republicans not to block it with a filibuster. each individual senator makes up their own mind, each senator has the right to stage a filibuster. so that's not something he can control entirely. a bigger issue, though, i have to edadmit, when you look at senator mcconnell and why he's so important right now is that he needs to bring some republicans on board this deal...
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so hopefully the discussion between the vice president and senator mcconnell will get us back on track and hopefully a breakthrough and something that we can ultimately vote on yet today or tomorrow that would overt what we all believe is an economic disaster. >> most successful businessmen and successful people they have talked to are willing to pay more. and so it remains to be seen whether the republicans being driven by a very extreme group of house members will allow the economy to hurt because of their desire to protect multimillionaires in this country. that is what it is going to boil down to. >> so two things to flesh out there, don. first of all, senator john thune, a member of the republican leadership talking about talks between senator mcconnell, the republican leader, and the vice president joe biden. that is something that started transpire today. senator mcconnell as our jessica yellin reported, he reached out to joe biden and that is a sidebar conversation, but an important one, because the two of them have a longstanding relationship, and joe biden was a senator for t
so hopefully the discussion between the vice president and senator mcconnell will get us back on track and hopefully a breakthrough and something that we can ultimately vote on yet today or tomorrow that would overt what we all believe is an economic disaster. >> most successful businessmen and successful people they have talked to are willing to pay more. and so it remains to be seen whether the republicans being driven by a very extreme group of house members will allow the economy to...
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some folks think that perhaps senator mcconnell would not negotiate something with senate democrats if he wasn't sure that it was going to pass the house, that it would get by at least some of the republicans who would need to get by to pass. but i think the white house is hoping that he will kind of buck house republicans and agree to work something out so that something can pass the senate. but it's very much up in the air, miguel, and not certain that we are not going over the fiscal cliff at this point. >> sounds like a very dangerous game, a very complicated game of chicken, the highest levels. what is your sense of it? you spent time with the president, know washington well. do you think someone is going to blink? >> you know, if you'd asked me a couple of weeks ago, i would have said i didn't think that the country would go over the fiscal cliff. i think it's very much a possibility at this point. i was sort of surprised that, honestly, a deal wasn't worked out. so i think at this point, too, the white house would have told you behind the scenes that ultimately, a deal would be
some folks think that perhaps senator mcconnell would not negotiate something with senate democrats if he wasn't sure that it was going to pass the house, that it would get by at least some of the republicans who would need to get by to pass. but i think the white house is hoping that he will kind of buck house republicans and agree to work something out so that something can pass the senate. but it's very much up in the air, miguel, and not certain that we are not going over the fiscal cliff...
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have kind of abdicated their power to shape this short-term bill to the senate minority leader, mitch mcconnell. and so the thought is, obviously, that they may vote on something that the senate has to take up, but it's something that ultimately has to go through the house and would take democratic votes as well and maybe they won't get as much as they want. certainly their opportunity to get some entitlement and tax reform is gone for the moment, miguel. >> absolutely extraordinary situation. thank you very much. try to enjoy hawaii and aloha to you. >> reporter: aloha. [ bells tolling ] >> yesterday much of the country paused to remember the newtown shooting victims. church bells rang out exactly one week after the tragedy began. flags remained at half-staff. even many websites went dark. and people all over the country observed a moment of silence for the 20 children and 6 teachers and administrators. today there's a walk for peace in newtown where three more children will be laid to rest. aina grace marquez. greene, who loved to sing. josephine grace gay, who had just celebrated her 7th bir
have kind of abdicated their power to shape this short-term bill to the senate minority leader, mitch mcconnell. and so the thought is, obviously, that they may vote on something that the senate has to take up, but it's something that ultimately has to go through the house and would take democratic votes as well and maybe they won't get as much as they want. certainly their opportunity to get some entitlement and tax reform is gone for the moment, miguel. >> absolutely extraordinary...
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do you think mcconnell and boehner are in the mood to cooperate with president obama? >> i do believe they're in a mood to cooperate. speaker boehner's talked for a very lopg time about a grand bargain, a big deal, about trying to find some major solution going forward. but the senate hasn't acted on anything, so i think we have to be careful on just placing the blame on mcconnell or boehner. without adding in to this mix, senator reid. >> will you support whatever short-term deal the republican leadership supports? >> i don't know what i'm going to support yet until i see it. the previous congressman you had was on, interesting enough, his office is right next to mine. the fact of the matter is we're going to have to find a place to come together. that the president has offered a 7% solution for a 100% problem. i was struck by the fact that not a single democrat supported boehner's plan b. that was nancy pelosi's solution. raise taxes on those earning a million dollars or more. not one democrat agreed to vote for it. >> let's talk about that plan brk. it was not succe
do you think mcconnell and boehner are in the mood to cooperate with president obama? >> i do believe they're in a mood to cooperate. speaker boehner's talked for a very lopg time about a grand bargain, a big deal, about trying to find some major solution going forward. but the senate hasn't acted on anything, so i think we have to be careful on just placing the blame on mcconnell or boehner. without adding in to this mix, senator reid. >> will you support whatever short-term deal...
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republicans mitch mcconnell and john boehner. those four members of congress are expected to make the drive from the capital, which you see on the right, down pennsylvania avenue, to the white house, there on the left. and we expect them to enter through a side door on the west side of the mansion. that's the entrance right there. and they'll meet with the president. in the oval office. beginning, we're told, at 3:00 p.m., less than one hour from now. and just four days ahead of the so-called fiscal cliff. so a very big moment in the nation's capital. and to walk us through what might happen we turn to jessica yellin, a chief white house correspondent. jessica, we said up front, it is a long shot, give us a best case scenario. >> reporter: the best case scenario would be that all the leaders walk out of this meeting and say they have a deal. the two senators say they can bring it to a vote, and none of their members will filibuster it. house speaker john boehner says he will bring it to the house floor for a vote before new year'
republicans mitch mcconnell and john boehner. those four members of congress are expected to make the drive from the capital, which you see on the right, down pennsylvania avenue, to the white house, there on the left. and we expect them to enter through a side door on the west side of the mansion. that's the entrance right there. and they'll meet with the president. in the oval office. beginning, we're told, at 3:00 p.m., less than one hour from now. and just four days ahead of the so-called...
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so it's sort of con joeling mitch mcconnell to agree to those actions on those parts. if the president can get that done, we don't have much time left for the rest of the pieces to fall into place. >> jessica, i'm sure you saw harry reid on the floor there today really going after speaker boehner, which is just more and more of the blame game. can anything get done when all they are doing is fighting and blaming each other? >> for the longest time, we thought this is a lot for the last few weeks of public posturing. behind the scenes, they must have a secret deal worked out, but in the end they will come out with a deal to get this done before new year's. but it hasn't turned out that way, has it? so it's not surprising there's an enormous amount of partisanship given each side wants to win the public relations war in @ event the nation does go over the cliff. >> let's hope for the best. jessica yellin. happy holidays. come to new york. thanks. >>> your top stories, heated political differences are common, but a dispute in albuquerque? that one nearly ended in gun viol
so it's sort of con joeling mitch mcconnell to agree to those actions on those parts. if the president can get that done, we don't have much time left for the rest of the pieces to fall into place. >> jessica, i'm sure you saw harry reid on the floor there today really going after speaker boehner, which is just more and more of the blame game. can anything get done when all they are doing is fighting and blaming each other? >> for the longest time, we thought this is a lot for the...